consignment account
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 September 2010
X of Kolkata sends out gooods costing Rs. 1,00,000 to Y of Delhi. 3/5th of the goods were sold by consignee for Rs. 70,000. Commission 2% on sale plus 20% of gross sales less all commission exceeds cost price. the amount of the commission will be.
Ans Rs. 2833
How to calculate ?
Ans Rs. 2833
How to calculate ?
CA PRAMOD SARAOGI
(Expert)
05 September 2010
Commission @ 2 % = 70000-60000 (100000*3/5) = 1400
Let the second type of Commission be X
Then X = 20% of (70000-60000-1400-X)
X = 1/5(8600-X) or 1720 - 1/5X
X = 1433
Total Commission = 1400 + 1433 = 2833
Let the second type of Commission be X
Then X = 20% of (70000-60000-1400-X)
X = 1/5(8600-X) or 1720 - 1/5X
X = 1433
Total Commission = 1400 + 1433 = 2833
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